College & Grad Students Say "Carpe Diem" to Real Estate.

PARSIPPANY, N.J.--(BUSINESS WIRE)--Sept. 2, 1998--

Low Rates & Campus Housing Crunch Motivate Students Toward Home Ownership

Whether it's finding a roommate, a new dorm or off campus housing, students across America are finalizing their back-to-school living arrangements. Coldwell Banker Real Estate Corporation ("Coldwell Banker") reports an emerging trend: college & graduate students have begun investigating the prospect of home ownership.

"More students, specifically at the graduate level, are seeking home ownership as opposed to renting. Interest rates have lowered significantly, making it a perfect time for them to purchase a condominium or townhouse," said James A. Menditto, office manager and Certified Residential Broker (CRB), COLDWELL BANKER Poquessing Associates in Philadelphia. "For example, if interest rates are roughly 6.5%, an $80,000 two bedroom condominium or townhouse, with taxes and fees, will cost the student about $790 each month.A two bedroom apartment will rent for anywhere between $800 to $1000 each month. And, that doesn't include the tax advantages of owning versus renting."

"Many financial institutions offer first-time home buyer assistance programs, making it easier for students to realize the American dream at a younger age," added Alex Perriello, COLDWELL BANKER President & CEO. "While predominant in the Northeast, this activity supports that real estate has become attainable for many new markets."

Many parents with discretionary income can purchase off campus housing as both a financial investment and as an investment in their child's future. In addition to building credit, owning a home gives students a strong sense of responsibility through a vested interest in real property.

The benefits of owning versus renting for students are plentiful.

-- Students have control over their own housing and a flexibility

with income.

-- The price of owning is often similar to the cost of renting, and

tax advantages may make it even more affordable than renting.

-- Students can offset the cost further if they bring in roommates

and charge them rent.

-- They are free from the threat of a lease not being renewed.

-- Students don't have to vacate their housing during the summer or

at the end of the school term.

-- If they choose to have pets, in many cases, they can.

-- When the student no longer needs the home, it can be sold or

rented to future students for investment income.

Coldwell Banker Real Estate Corporation, a subsidiary of Cendant Corporation (NYSE:CD) has more than 2,900 independently owned and operated franchised real estate offices and over 69,000 sales associates throughout North America. COLDWELL BANKER Online(tm) can be accessed at http://www.coldwellbanker.com. For more than 90 years the COLDWELL BANKER System has been North America's premier full-service provider of real estate services.

    CONTACT: Coldwell Banker
              Gabrielle Sertich, 973/496-7199
              e-mail:[e-mail]
                         or
              Sawtooth Group
              Melissa Prusher, 732/636-6600
              e-mail:  [e-mail]